Governor of Lagos State, Babajide Sanwo-Olu on Tuesday presented the state’s 2021 budget tagged “Budget of Rekindled Hope” to the Lagos State House of Assembly, today November 10, 2020. The budget is estimated at N1.155 trillion naira.

The governor also announced his intention to repeal the Public Office Holder (Payment of Pension Law 2007), which provides for payment of pension and other entitlements to former Governors and their Deputies.

Sanwoolu said the bill would be sent to the Lagos Assembly for legislative approval.

According to Sanwo-Olu, the abolition of pension for former governors and deputies will reduce the cost of governance.

He said, “Mr. Speaker and Honourable Members of the House, in light of keeping the costs of governance low and to signal selflessness in public service, we will be sending a draft executive bill to the House imminently for the repeal of the Public Office Holder (Payment of Pension Law 2007), which provides for payment of pension and other entitlements to former Governors and their Deputies.”

The 2021 budget is centered on advancing the T.H.E.M.E.S agenda of the State Government and expected to rekindle hope in the state on the implementation of its content.